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Prepare the statement of cash flow under the direct method for the year ended December 31, 20X3.

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Complete the following exercise. Fill in the Excel spreadsheet provided via the link below to provide your answers to parts a and b. Then paste the Excel data into a Word document on which you can also write the answer to part c.Label each exercise or problem clearly. Use APA formatting and citation if needed.The Carpet Company’s 20X2 and 20X3 balance sheets included the following items:December 3120X3 20X2DebitsCash $10,500 $ 4,000Accounts receivable 8,000 9,000Merchandise inventory 21,000 18,000Equipment 18,000 15,000Totals $57,500 $46,000CreditsAccumulated depreciation, equipment $4,000 $3,000Accounts payable 7,000 5,000Taxes payable 1,000 2,000Dividends payable 1,500 0Common stock, $10 par value 27,000 25,000Contributed capital in excess of par, common stock 6,000 5,000Retained earnings 11,000 6,000Totals $57,500 $46,000The Carpet Company’s income statement was as follows:CARPET COMPANYIncome StatementFor the Year Ended December 31, 20X3Sales $61,000Cost of goods sold $40,000Wages and other operating expenses 6,300Income taxes expense 4,200Depreciation expense 1,500 52,000Net income 9,000Additional information includes the following:Equipment costing $3,500 was purchased during the year.Fully depreciated equipment that cost $500 was discarded and its cost and accumulated depreciation were removed from the accounts.Two hundred shares of stock were sold and issued at $15 per share.The company declared $4,000 of cash dividends and paid $2,500.Required:Prepare the statement of cash flow under the direct method for the year ended December 31, 20X3.Prepare the statement of cash flow under the indirect method for the year ended December 31, 20X3.Provide a statement between 200 and 300 words in length for senior management. The topic is the status of the company based on cash flow. . TODAY AND GET AN AMAZING DISCOUNT The post Prepare the statement of cash flow under the direct method for the year ended December 31, 20X3. appeared first on Term Paper Tutors.”Do you need a similar assignment done for you from scratch? We have qualified writers to help you with a guaranteed plagiarism-free A+ quality paper.

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